London - Bury have expressed their "astonishment and dismay" at the English Football League's (EFL) decision to expel them from the competition after hopes the first club expelled from the league in two decades could be revived.
The Shakers' EFL membership was withdrawn by the governing body late on Tuesday night following the collapse of a takeover and after the club had failed to show they could pay their debts.
But the club said they could not understand the EFL's haste as they have shown they have received another takeover offer from "a credible bidder".
"Everyone connected with Bury Football Club were shocked, and disappointed with the EFL's decision to expel this wonderful, historic, community driven Club from the Football league," Bury said in a statement.
"This decision was taken despite a credible new bidder being made aware to them before Tuesday's 5pm deadline.
"Given this, all staff, players and no doubt fans of Bury Football Club are utterly devastated that despite the new bid to buy the Club, the EFL have informed us that they will not be rescinding their decision.
"This is something we are struggling to comprehend as the new bidder has proven significant funds to the EFL, funds to allow them to takeover, run and secure the long-term future of Bury Football Club.
"Everyone at the club believed that such the capabilities of the potential new owner, this would've started a brand new era for the club, seeing it go from strength to strength.
"The extreme lack of communication from the EFL has left all involved with Bury Football Club astonished and in dismay."
Bury's first five league games of the season had been suspended as a new owner was sought for the club.
And the EFL defended the decision to put a deadline on that process to protect the integrity of League One.
The remaining 23 teams in the third tier will complete the season and only three instead of four teams will be relegated.
"At what point in any situation do you say enough?" the EFL's executive chair Debbie Jevans told reporters.
"We've already postponed five games and each of those impacts other teams. Do we postpone six, seven, eight, nine - at what point do you stop?
"We have duty of care to the 23 other clubs in League One and equally to all of the clubs in the Championship and League Two."